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Swiss watchmaking enjoys top start to the year according to export data

Swiss watch exports have seen their biggest six-month gain since 2012, with America and Asia leading the way.

In a statement today, the Federation of the Swiss Watch Industry said shipments increased by 11% to CHF 10.5 billion, the first time they have exceeded CHF 10 billion for the first half of the year since 2015.

Despite the positives for the US, which saw a 9% increase on exports in the same period last year, the situation in the UK has worsened.

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The UK reported a drop of 11.9% on the same period last year, something which seemed common among European counterparts, with Italy seeing a decrease of 21.3% and Spain recording a fall of 11.8%.

Alongside the positivity in the US was the Asian market, Hong Kong (+39.2%), Japan (+31.8%) and South Korea (+46.2%).

The bulk of the growth, in value terms, was generated by mechanical watches which saw an 11.3% increase.

There was also a rise in volume terms of 13.6%, offsetting the decline of electronic watches which decreased by 3.8%.

However, the rise is not expected to be as dramatic for the full 12 month period, as it has been predicted that the industry will face a more difficult comparison base in the second half.

Tags : Federation of Swiss Watch IndustrySwiss exportuk market
Alex Douglas

The author Alex Douglas

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